Consulting Business Plan

A consulting business plan is a plan to start and/or grow your consulting firm. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.

You can easily complete your consulting firm business plan using our Consulting Firm Business Plan Template here.

There are many types of consulting firms. Most consultant companies are in business concentrations such as Management, Strategy, Operations, IT, Human Resources, Financial Advisory, and Marketing/Sales.

The primary source of revenue for consulting firms are fees paid by the client. The client will either sign a contract or agreement of the services it will choose and the pricing for those services beforehand.

The key expenses for a consulting business are the cost of leasing the office, employee cost, marketing/advertising costs, and any office technology or software.

Consulting businesses are most likely to receive funding from banks. Typically you will find a local bank and present your consulting business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources.

Starting a consulting business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Consulting Business Plan - The first step in starting a business is to create a detailed consulting business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your consulting business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your consulting business is in compliance with local laws.

3. Register Your Consulting Business - Once you have chosen a legal structure, the next step is to register your consulting business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your consulting business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Consulting Equipment & Supplies - In order to start your consulting business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your consulting business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful consulting business:

• How to Start a Consulting Business
• How to Start a Consulting Business